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Wall Street Set To Open Positive

(RTTNews) – The economic calendar is relatively quiet on Tuesday and the Producer Price Index for July and the Redbook Data for the week might get investor attention. Amid high fears about the COVID-19 infections, Russia has registered the first vaccine ‘Sputnik V.’ against the pandemic. Russian President Vladimir Putin said mass production will be available within weeks and expects to produce millions of doses in the coming months. Investors await a meeting between top U.S. and Chinese trade officials on Saturday. Early signs from the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished mostly higher, while European shares are trading positive. As of 7.50 am ET, the Dow futures were gaining 283.00 points, the S&P 500 futures were progressing 19.25 points and the Nasdaq 100 futures were adding 10.00 points. The U.S. major Indices closed broadly higher on Monday. The Nasdaq fell 42.63 points or 0.4 percent to 10,968.36, the Dow jumped 357.96 points or 1.3 percent to 27,791.44 and the S&P 500 rose 9.19 points or 0.3 percent to 3,360.47. On the economic front, the Producer Price Index of the Bureau of Labor Statistics for July will be issued at 8.30 am ET.

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